Why should we continue to have we pay for social security when it will run out of money way before i retire?

Question

the latest is it will run dry in 2022...and every time they make an estimate they knock a few more years off , but yet they are doing nothing to fix this ...why should my hard earned money go towards something i will never see? i am going to die at work because i can never afford to retire...I would like to personally thank all the polititians in the last 30 years that ran social security into the ground..

Answer 1

Indeed, why, when Social Security is only voluntary?

Understandably, every answer here is in error, and even the question/statement, because we have all been duped by the federal gov't.

When we signed the back of our Social Security card, we entered into contract with the federal gov't, and certain laws applied to us that did not apply before. Through this contract, the Social Security Administration (SSA) now has power to collect funds from us.

We are all duped into believing this is some form of benefit to ourselves, but it is a tax instead. If the SSA contract were a benefit directly for us, then we would have some form of control over it. We would have some say as to how the money is managed, when and where invested, how much we would pay in, and we could withdraw at any time.

But now we are told that the SSA funding is "mandatory." This is clearly a tax, and not a benefit. The only terms of the contract are provided by and for the federal gov't. They now have the right to tell us how much to pay, and they decide how much to dole out, if they pay out at all, similar to any tax refund.

The SSA contract created a nexus (legal term for a 'connection' that did not exist before) with the federal gov't, that gives them the right to control you and your finances. You have essentially signed away your rights and your Constitution. You have effectively said that you cannot manage your own finances and you want the federal gov't to do it for you. Through the SSA contract, you have now become a ward of the state. In law, a "ward" is generally an underage person or senile person or crazy person who cannot think or make decisions for themselves. As a ward of the state, you have asked the federal gov't to make your financial decisions for you, which they are now doing, since you have said you cannot make those decisions for yourself. In making the decision to sign the SSA contract, you have shown that you are not knowledgable enough to make your own decisions, and if you try to take it to court, you will be informed of your original decision, and will be deemed a ward of the court also.

If you were to invest your retirement money that you give to the SSA at only 5%, you would retire wealthy at age 65, and certainly more than comfortable, but you have chosen to become a retirement pauper, earning from $850/mo to $1500/mo. Who can live on that? The gov't has assured that you will be dependent on them for the rest of your life, and since they control the purse strings, they control you.

If you complain to the SSA, or say you are going to stop paying in money, they will tell you it is mandatory, that you must pay. This is true because of your contract.

If you wish to opt out of the program, you must submit to the SSA a sworn statement to that effect. In this sworn statement, you will explain why the contract is no longer legally binding, that fraud is being perpetrated by the SSA against you, because the terms of the contract were not stated in advance, that you were not informed that you were signing away your Constitutional rights. Then you must file this sworn statement in a public venue, say County Records, to give public notice to whomever might be interested that you are no longer legally bound to the SSA or federal gov't by this contract.

You need to learn a little more about this, because you're going to have a heck of a time with your employer convincing him to stop withdrawing money from your check for SSA.

And when you finally wake up and begin to see the truth of the matter, you will also see that federal Income Taxes are also voluntary, and you will want to go through the same process with the IRS. Do not be afraid. They are the ones breaking the law, not you. Again, you cannot simply stop paying, because your last 1040 Form was a contract with them, and until you break the contract, you are obligated to pay Income Taxes. You cannot hide your money offshore or in your kids accounts either, because there are certainly laws against that and you will go to jail. But you can legally and lawfully withdraw from your voluntary status, and then refuse to be subjected to fraud.

You've known all your adult life that there are laws requiring you to follow these idiotic practices of allowing gov't to control your finances. You just didn't know that these laws are unconstitutional. The U.S. Constitution says that the federal gov't has no authority to obtain funds or possessions of the people and re-distribute that wealth. This is why our forefathers came to America, and this is why they wrote a Constitution.

But hey, if you agree with Socialism, and you agree with the graduated tax scheme of Communism (it is the second Plank of the Communist Manifesto by Karl Marx), then keep on doing what you're doing, but you better figure out first who's going to pay so that others may receive, and who's whom.

If you choose to break these contracts and get your rights back and take back control of your own financial freedom, then I've given you a 40% raise on your next paycheck, and forever. At least rally behind a platform of reform, like for Steve Forbes plan for a flat tax. Without your involvedment, your situation is only deteriorating.

If you want to live in a self-governing nation, then get off the sofa, turn off the TV, go to your library and the following websites, learn how to govern, then govern.

Answer 2

Social Security will not just disappear. The gov't has options. It can supplement the payouts with general tax funds. It can print more money, etc.

Even if the gov't doesn't do a damn thing, SS will still take in enough payroll taxes to pay out around 70% of what it should.

It'll be there for you, just maybe not as much as you hoped.

Dredude52's answer is dangerous. There is nothing voluntary about SS or income taxes, except you can choose not to accept SS benefits. How the does gov't know whether I signed the back of my SS card?

The only voluntary thing about income taxes, is that you voluntarily assess yourself by preparing and filing a return. If you don't, the gov't will do it for you, but they won't be doing you any favors like finding the deductions and credits. Paying income taxes is by no means voluntary!!! Idiots who don't pay their income taxes have their assets seized or wind up in jail, or both.

SS is simply another gov't program. They tax your earnings and then they redistribute it through a program called SS to the old folks and disabled. Congress and the President can change or abolish this program at any time, just like any other program.

Answer 3

Don't worry about it. The Govt has this magical thing called a printing press. The Treasury can (and does) print dollars out of thin air! Ever think about what a dollar bill really is? Don't hink too much about it or it will freak you out!
The solution with Soc Sec will be lower benefits and higher taxes. Your frustration is correct in that if we as individuals had the choice to take the money invested annually in Soc Sec for ourselves, we could do much better with it. Unfortunately, it is only a small percent of the public that would actually save the money- thus the govt has to step in with an entitlement program to serve the lowest common denominator in society.
Looking at the bright side, we live in one of the wealthies countires in the world with one of the highest standards of living. The take away is that it is up to you to secure your retiement but you live in a land where you have the opportunity to do that.
Good luck!

Answer 4

I personally think Social Security can be fixed, if we can keep the politicians hand out of it. We should take the current retirement plan away from our politicians and make them live on social security like every other American. Since they are not dependent on it, they really don't care about it, other than another program they can tap for their latest cause.

Answer 5

To preserve it as long as possible. Kind of sucks that the young generation are funding the retire people. It is best that every working citizen to fund their own retirement using 401k and IRA. Pension plans are becoming extinct, social security is not going to pay much, and savings accounts are not earning enough interest.

Answer 6

You know, i understand the passion but i think the way out is to have your own retirement plan and not focus so much on ssf. I have my doubt if the law would ever be changed making ssf banned. I think the way out for you is to invest more of the little you earn and not keep on working harder because remember the more you earn, the more taxes you going to pay. So invest more, or else its going to be( work harder-earn more -more taxes-less to spend and the cycle begins again.)

Answer 7

I suggest you to open a Scottrade brokerage account and invest in the Stock Market with the help of a Financial Advisor just in case the Social Security Account is empty by the time you retire.

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Answer 8

If you didn't drop out of high school and went to a college of somekind, you would have a real professional job and would be making a different kind of money that does not allow you to even worry about SS.

Answer 9

Great point!

I'd be willing to make a deal with govt. Give me back all that I've paid in to SS and I'll make it on my own and forfeit benefits.

Answer 10

Because it is the law.